The 23rd India Property Exhibition will be held in Kuwait on 11 and 12th January, 2012 at the Ramada Hotel in Al Riggae from 10.45am to 8.30pm. The 2 day event, which guides one to invest in the right property at the right time and price, will provide NRIs looking for investment in real estate India with access to first hand information on upcoming and current real estate projects across the country.
The exhibition, which is being sponsored by Mantri Group and North Town, will showcase a range of property options from reputed and leading developers and builders across India. More than 100 projects across various metros, tier I and tier II cities are on display during India Property Tradefairs 2013, including luxury villas, apartments, independent villas, beach-side properties, hill station properties, plots and gated community projects among others. Properties are on display from Mumbai, Delhi NCR, Pune, Nagpur, Hyderabad, Rajahmundry, Vizhag, Bangalore, Chennai, Coimbatore, Ooty, Trichy, Pondicherry, Hosur, Gurgoan, Kochi and several other locations.
The real estate sector in India is undergoing a self-organization and this has been one of the most crucial factors for India gaining its status as a highly favored investment destination through FDI and funds. India is not only the fifth largest economy in the world, ranking above France, Italy, the United Kingdom and Russia; it also has the third largest GDP in Asia and the second largest among emerging nations, based on purchasing power parity. Real estate continues to be a lucrative investment option for NRIs for a number of reasons, including the following facts: The organized real estate sector in India is estimated at around $12 billion, roughly two percent of India’s $600 billion economy, which is in line with mature economies around the world.
In addition, for the last two or three years, real estate prices in markets across India are on an upswing, as the trend of owning properties in the form of second homes like exclusive beach houses, homes in hill-stations and near religious sites are growing fast. According to industry analysts, the real estate sector has the potential to reach over $90 billion in the next ten years. Moreover, the government is liberalizing guidelines and norms for Foreign Direct Investment (FDI) in an attempt to make them more NRI friendly.
Returns from real estate investments in India have consistently performed well and even outperformed other investment options. Easy home loan availability by financial institutions in India and government policies that have made NRI investment and repatriation procedures simpler and hassle-free have contributed to making real estate a viable and rewarding investment option for NRIs. NRIs can acquire residential/ immovable property in India, rent it out, transfer or sell it. They can also take the rental income and capital investment in the property outside India, subject to the foreign exchange regulations. The NRI/PIO may use his own funds to acquire immovable property; other than the option of availing home loan from bank for this purpose. The NRI’s ‘own funds’ refer to the money received in India by way of inward remittance from overseas out of income earned overseas, personal savings outside India.
These funds can be remitted through Non- Resident External (NRE) or Non- Resident Ordinary (NRO) or Foreign Currency (non-resident) (FCNR) bank accounts. Moreover, they can remit sale proceeds outside India for up to two such properties without any RBI approval. Remittance for subsequent properties requires RBI’s approval. In case the property is acquired from rupee funds held in India, the remittance depends on the holding period of the property. Other facts that have helped make real estate a favorable investment options are:
RESIDENTIAL (HOUSING): The cost of mortgage rates came down from 18 percent to 8 percent in the last 5 years.
COMMERCIAL (OFFICE SPACE): IT space leasing continues to boom with 12 million sq ft leasing in Bangalore, 6 million sq ft in Mumbai and 7.7 million sq ft in NCR (National Capital Region) in the previous year.
RETAIL (SHOPPING): Organized retail, which accounts for just 2 percent of the USD 200 billion sector, is expected to grow from USD 4 billion to USD 15 billion in the coming years.
HOSPITALITY (HOTELS): Domestic and International operators are planning to invest in 3-4 star category hotels. India requires another 75,000 to 1, 00,000 rooms in the next 5 years. The India Property Exhibition 2013 is organized by Indus Group and Response Events and Exhibitions, Kuwait.
Source :kuwaittimes.net
